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Compiled by Purnima Joshi
As we usher in the new year battling against several strains of Covid and the resulting uncertainties, the most recent Malaysia’s ‘once in 100 years’ floods just last week, is a harsh reminder of the reality of climate change and the urgency of better disaster planning. Malaysia is seeking US$3 million from the UN Green Climate Fund (GCF) to develop a national plan to adapt to climate change, amid these deadly floods that displaced nearly 70,000 people. Elsewhere, thousands were left homeless and hungry at Christmas; Philippines faces up to the looming disaster of the super typhoon, and the city of Surat, on the western coast of India, is bracing itself for flooding that could trigger outbreaks of malaria and dengue fever. Rising temperatures could force companies to relocate their factories, and Surat’s 4.5 million residents are already preparing for the disasters triggered by rapid urbanization and global warming. Worse still, typhoons in coastal Asia and China could be twice as powerful by 2100, forecasts a recent study.
On a positive note, however, from pledging to become net-zero emitter of carbon by 2070 to achieving 500 GW non-fossil energy capacity by 2030, India led from the front on environmental issues this year, grabbing eyeballs across the world, and India’s green energy industry received foreign direct investment (FDI) worth $797.21 million during 2020-21. On the upside, climate change bestows a great opportunity to industries producing environment-friendly goods, to enhance their potential to meet both domestic and global market expectations. And among key industry players, Nissan Motor Co., Japan is aiming to partner with local authorities in the country to push their net-zero target.
Wishing you a happy new year! And Happy Reading!
INDUSTRY
This is how Nissan aims to help Japanese cities to reach the net-zero target
Hindustan Times, 30 Dec 2021
Nissan Motor Co., being one of the major auto manufacturers in Japan is aiming to partner with local authorities in the country to push their net-zero target.
Are trade unions unlikely allies in the climate fight?
Eco-Business, 21 Dec 2021
A petroleum union chief recently spoke at a climate rally in Singapore, supporting green taxes and emission cuts. It comes as trade unions worldwide grapple with how climate change, and climate action, affect workers.
How traditional, environment-friendly industries hold the key to India achieving its climate target
First Post; 20 Dec 2021
Climate change bestows a great opportunity to the industries producing environment-friendly goods, to enhance its potential to meet both domestic and global market expectations
Stocks of EV makers, Chinese solar firms fall after US climate plan failure
The Straits Times, 20 Dec 2021
US Senator Joe Manchin's surprise rejection of a US$1.75 trillion (S$2.95 trillion) economic plan with crucial climate provisions is having an impact on global solar and electric vehicle (EV) stocks.
INDIA
India put climate change at the centre of its environmental policies in 2021
Economic Times, 29 Dec 2021
From pledging to become a net zero emitter of carbon by 2070 to achieving 500 gigawatts non-fossil energy capacity by 2030, India led from the front on environmental issues this year, grabbing eyeballs across the world.
PACIFIC REGION
Aussie climate ambition will restart at ballot box
Reuters.com, 20 Dec 2021
Expect some green shoots at Australia’s 2022 general election. Although previous efforts to tackle global warming have foiled five prime ministers since 2007 and may have cost the opposition Labor Party the 2019 ballot, votes cast early next year will give independent,
climate-savvy candidates a starring role.
NSW approves controversial $600m gas plant
Canberra Times, 20 Dec 2021
A large gas-fired power station labelled "unnecessary and dangerous" by critics has been approved by the NSW government.
Floods in Australia among most expensive climate events of 2021, report finds
SBS News, 27 Dec 2021
The world's 10 costliest weather disasters of 2021 together caused A$235 billion in damages - representing an annual increase of 13 per cent.
SOUTH-EAST ASIA
Thousands left homeless and hungry at Christmas as Philippines faces up to climate crisis reality of super typhoon
CNN, 28 Dec 2021
Usually, Jay Lacia wakes at midnight on Christmas Day to start the festivities -- but this year, all he wished for was enough food to eat.
Malaysia seeks UN climate adaptation funds amid deadly floods
Channel News Asia, 27 Dec 2021
Malaysia is seeking US$3 million from the UN Green Climate Fund (GCF) to develop a national plan to adapt to climate change, the environment ministry said last week, amid deadly floods that have displaced nearly 70,000 people this month.
Activists demand Indonesian climate leadership during G20 presidency
The Jakarta Post, 19 Dec 2021
Indonesia should use its year-long Group of 20 presidency to lead member countries in the delivery of their climate commitments, youth activists have said.
FINANCE
India’s green energy economy received $7.27 billion FDI since 2014-15
Mint; 28 Dec 2021
India’s green energy industry received foreign direct investment (FDI) worth $7.27 billion from 2014-15 till June 2021, according to Ministry of New and Renewable Energy (MNRE). Of this$797.21 million came during 2020-21.
Climate M&A will shift from risk to opportunity
Reuters.com, 29 Dec 2021
Climate-change dealmaking is about to get a lot more legit. Green-tinged transactions more than tripled in value in 2021 to $164 billion by early December, per Refinitiv, though there’s no standard definition for what merits the colour.
Morgan Stanley and others pick stocks that could benefit from China’s climate goals
CNBC, 28 Dec 2021
For analysts in Greater China, one of the big investing themes for next year is finding companies that could benefit from Beijing’s push to reduce carbon emissions.
How to tackle carbon emissions and climate change? Blockchain may hold the key
The Straits Times, 28 Dec 2021
Besides increased transparency and accountability, advances in the application of blockchain innovation in emerging economies can also help save millions of lives, explains Dr Huy Pham, a leading FinTech researcher and lecturer at RMIT University
ENVIRONMENT
In India, An Unlikely Model For Climate Change *Resilience*
WorldCrunch, 28 Dec 2021
It's no longer a question of time. The city of Surat, on the western coast of India, will soon face flooding that could trigger outbreaks of malaria and dengue fever, and rising temperatures that could force companies to relocate their factories. Its 4.5 million residents
are already preparing for the disasters triggered by rapid
urbanization and global warming.
In 2021, Extreme Weather Woke China Up to Climate Change
Sixthtone.com, 28 Dec 2021
With a low-lying, typhoon-battered coastline and inland regions faced with desertification, melting glaciers, and sweltering summer heat, China would seem like it has plenty to fear from climate
change.
Climate Change: Typhoons in coastal Asia and China could be twice as powerful by 2100, says Chinese University of Hong Kong study
South China Morning Post, 27 Dec 2021
The destructive power of typhoons in Asia could nearly double by the end of the century, according study by the Chinese University of Hong Kong
Malaysia’s ‘once in 100 years’ flood exposes reality of climate change, better disaster planning needed: Experts
Channel News Asia, 21 Dec 2021
Floods that resulted from torrential rain in many states of Peninsular Malaysia over the weekend exposed the reality of extreme weather patterns caused by climate change, according to environmental experts interviewed by CNA.
FOOD SECURITY
How can we tackle climate change and food shortage in Asia?
The Daily Star, 23 Dec 2021
Climate change and food security issues are multifaceted and transcend national boundaries. Therefore, regional organisations are optimally positioned to address them while actively engaging global partners to slow down or reverse current trajectories.
ADDITIONAL NEWS
Bangladesh takes baby steps towards climate-friendly just transition
News.trust.org, 24 Dec 2021
Sports stars press Australia on climate change
ChannelNewsAsia, 28 Dec 2021
Himalayan glaciers are melting at an extraordinary rate, research finds
CNBC, 20 Dec 2021
Asia-Pacific's response to COP26
Bangkok Post, 29 Dec 2021
Climate-related risks pose potential losses of $1.2-4.7 trillion to Asia-Pacific: UN-ESCAP
Business Line, 22 Dec 2021
CGM's Asia-Pacific Climate Digest is compiled by communications consultant Purnima Joshi.
With over two decades of experience in corporate communications, Purnima combines her skills in creative and communication along with her passion for working for the community. She has worked on a multitude of projects in waste management, circular economy, building active citizenship in the community, some of which have won awards. These also include a project on building climate resilience for UNICEF as well as some award-winning projects. She has been associated with several NGOs in an advisory capacity for over 10 years.